Prominent real estate lawyer Paul Shapses has joined Pillsbury’s New York office. A well-known dealmaker, Shapses focuses on sophisticated commercial real estate transactions, including financings, joint ventures, acquisitions and dispositions, real estate development and leasing deals. He comes to Pillsbury from Herrick Feinstein.
Shapses joins Pillsbury as co-leader of the firm’s Hotels and Hospitality Group and is a nationally recognized leader in hotel and resort acquisition, sale and finance. He has led the financing, acquisition and workout of more than $12 billion in resort and hotel properties throughout the United States, Canada, the Bahamas, Costa Rica, Anguilla, Bermuda, the Dominican Republic, Turks and Caicos, St. Martin and Mexico. He has handled sophisticated hotel and resort matters since 1989, and in 1993 worked to establish the first securitized lending program originated by a major Wall Street investment bank devoted to the hospitality industry.
“Paul has a wealth of experience on all sides – and through every cycle—of U.S. and international real estate deals,” said Real Estate practice leader Robert Herr. “His diverse skill set and preeminent reputation make him a terrific fit for our broad and vibrant practice. His focus and standing in the hospitality industry are second to none.”
Some of Shapses’ key client relationships include commercial lenders, a prominent real estate finance and investment management firm, luxury condominium developers, hotel investment funds and owners of resort real estate. Recent transactions on which he has advised include the negotiation of a co-development joint venture agreement between a U.S. developer and its prominent Chinese counterpart; representation of the resulting borrower group in a syndicated construction financing worth more than $250 million; representation of a commercial lender in a ground lease financing for a hotel located at a Big Ten university; and representation of multiple owners of hotel assets in the acquisition, sale and related management of various hotels and resorts in the U.S. and Mexico.
“The real estate sector has always been a major focus for Pillsbury, and Paul’s impressive track record enables us to continue developing that strength while also expanding our offering to industry clients,” said Firm Chair Dave Dekker. “We are thrilled to have him join our New York team.”
Shapses added: “I advise clients around the world in a wide range of interesting and sophisticated real estate-oriented transactions. I am excited to bring my skill set to Pillsbury and believe the firm’s extraordinary global footprint will enhance the services I provide. Pillsbury’s international standing in the real estate industry together with its diverse platform present compelling opportunities to serve my clients’ expanding needs with remarkable efficiency.”
Shapses is admitted to practice in New York and has been named in the New York edition of Super Lawyers every year since 2007.
Source: www.pillsburylaw.com
